Coastline Trust Co Decreases Stake in Northrop Grumman Co. (NYSE:NOC)

Coastline Trust Co cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 61.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 386 shares of the aerospace company’s stock after selling 625 shares during the period. Coastline Trust Co’s holdings in Northrop Grumman were worth $204,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOC. Insight 2811 Inc. purchased a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $226,000. Empirical Finance LLC grew its position in Northrop Grumman by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,976 shares of the aerospace company’s stock worth $2,628,000 after purchasing an additional 93 shares during the period. Dearborn Partners LLC bought a new position in shares of Northrop Grumman during the 3rd quarter valued at $212,000. CIBC Asset Management Inc boosted its stake in shares of Northrop Grumman by 7.2% in the 3rd quarter. CIBC Asset Management Inc now owns 20,597 shares of the aerospace company’s stock worth $10,877,000 after buying an additional 1,382 shares during the last quarter. Finally, Balboa Wealth Partners grew its holdings in shares of Northrop Grumman by 35.9% in the third quarter. Balboa Wealth Partners now owns 1,023 shares of the aerospace company’s stock worth $540,000 after acquiring an additional 270 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,289 shares of company stock valued at $685,273 in the last quarter. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Tuesday, August 27th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. UBS Group upped their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and lifted their target price for the company from $474.00 to $575.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Trading Down 1.3 %

Shares of NOC opened at $493.99 on Friday. The firm has a market cap of $71.97 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a 50 day simple moving average of $523.27 and a two-hundred day simple moving average of $486.19.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $6.18 earnings per share. On average, equities analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.